Prime Minister and Minister of Finance, the Hon. Philip Davis led debate on the 2024-2025 budget in the House Of Assembly on Wednesday.

During his presentation Mr. Davis addressed how the government will seek to reduce the cost of living. He said, “we have therefore established a national trade facilitation committee that will coordinate all our efforts across the different agencies in government. This includes the upgrade of the Potter’s Cay port, the digitalization of the trade ecosystem, streamlining and simplifying processes, and increasing competition across supply chains.”

Mr. Davis also detailed the government intention to review the salaries of public sector employees. “Since 2009, that’s 15 years ago, the entry level salary for a police constable has been $18,000, its now $20,000. If that salary were adjusted for the rate of inflation the salary should be, would be $24,000, not $20,000.” The government also intends to change the pay schedule of the public sector from monthly to bi-monthly with the introduction of Cloud Bahamas accounting system.

On taxes, the Prime Minister said, “it is a founding principle of the Progressive Liberal Party those of us who have more should pay more and that we should pay special attention to the least vulnerable amongst us. We unashamedly embrace the idea that striving for economic fairness and economic justice will make our country better for all of us.”

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